North Company produces two types of glass shelving: rounded edge and squared edge. The company reports the following cost data. Direct materials Direct labor Overhead (sing plantwide rate) Total product cost Units produced Product cost per unit $ 62,400 $ 89,600 Rounded Edge Squared Edge Total $ 152,000 72,000 216,000 $ 160,000 $ 440,000 24,400 73,200 20,000 $ 8 47,600 142,800 $ 280,000 28,000 $ 10 North Company's controller wants to apply activity-based costing to allocate the $216,000 of overhead cost to the two products to see whether product cost per unit would change markedly from that above. The company's budgeted activity usage equals its actual activity usage for the period. The following information is collected. Activity Purchasing Depreciation Setup Total Activity Usage Budgeted Cost $ 10,800 Activity Cost Driver Rounded Edge 113,200 92,000 $216,000 Purchase orders Machine hours Setups 218 orders: 1,000 hours 80 setups Squared Edge 862 orders 3,000 hours 420 setups Required: 1. Compute the activity rate for each activity using activity-based costing. 2. Compute overhead cost per unit for each of the two products using activity-based costing. 3. Determine product cost per unit for each of the two products using activity-based costing Total 1,880 orders 4,000 hours 500 setups